United Insurance Holdings Formation of Journey Insurance Company

United Insurance Holdings (“UPC”) launched a new company, Journey Insurance Company

• Journey is an admitted, Florida domiciled insurance carrier rated “A-” by A.M. Best
• At the time of the transaction, Journey planned to focus on offering homeowners and commercial residential property insurance
  • Initial geographic focus included Florida, Texas and South Carolina

Journey was formed by UPC in strategic partnership with Tokio Marine Kiln (“TMK”)

• Journey was initially 66.7% owned by UPC and 33.3% by R.J. Kiln & Co. (No. 3) Limited

Journey provided UPC a new way to grow its business in key markets

• Ability to serve customers and distribution channels UPC previously could not reach

UPC is a leading provider of personal and commercial property insurance in coastal states

• Over $1bn of premium-in-force with business across twelve states(a)
• Long track record of consistent underwriting profitability
• Completed a merger with American Coastal Insurance Company (“ACIC”) in 2017
  • ACIC is a specialty underwriter focused primarily on FL commercial residential property

(a) As of the time of the transaction.